Oppenheimer Asset Management Inc. grew its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 448,323 shares of the pharmacy operator's stock after buying an additional 24,285 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in CVS Health were worth $28,191,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the 3rd quarter valued at about $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the 3rd quarter worth approximately $32,000. First Community Trust NA increased its stake in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator's stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in CVS Health during the third quarter worth $33,000. Finally, ORG Partners LLC grew its holdings in CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator's stock valued at $35,000 after purchasing an additional 592 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on CVS shares. UBS Group lifted their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Royal Bank of Canada reiterated an "outperform" rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Mizuho decreased their price target on shares of CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company dropped their price target on CVS Health from $61.00 to $60.00 and set an "equal weight" rating for the company in a research note on Monday, November 4th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and an average price target of $73.00.
View Our Latest Stock Report on CVS
CVS Health Stock Performance
Shares of NYSE:CVS traded up $0.24 during trading on Wednesday, reaching $54.27. 8,035,222 shares of the company's stock traded hands, compared to its average volume of 11,329,127. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company has a 50 day moving average of $59.47 and a 200-day moving average of $58.88. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The stock has a market capitalization of $68.29 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55.
CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter last year, the business posted $2.21 EPS. The business's revenue was up 6.3% on a year-over-year basis. On average, equities analysts expect that CVS Health Co. will post 5.44 EPS for the current year.
CVS Health Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.90%. CVS Health's payout ratio is currently 67.51%.
CVS Health Profile
(
Free Report)
CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.
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